GOP Protests Non-Partisan Tax Report Showing No Connection Between Top Tax Rates and Economic Growth
From the New York Times, November 1, 2012:
Nonpartisan Tax Report Withdrawn After G.O.P. Protest
By JONATHAN WEISMAN
Published: November 1, 2012WASHINGTON — The Congressional Research Service has withdrawn an economic report that found no correlation between top tax rates and economic growth, a central tenet of conservative economic theory, after Senate Republicans raised concerns about the paper’s findings and wording.
The decision, made in late September against the advice of the agency’s economic team leadership, drew almost no notice at the time. Senator Charles E. Schumer, Democrat of New York, cited the study a week and a half after it was withdrawn in a speech on tax policy at the National Press Club.
But it could actually draw new attention to the report, which questions the premise that lowering the top marginal tax rate stimulates economic growth and job creation.
“This has hues of a banana republic,” Mr. Schumer said. “They didn’t like a report, and instead of rebutting it, they had them take it down.”
Read full article here: “Nonpartisan Tax Report Withdrawn After G.O.P. Protest“
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Another interesting quote from the article:
“Republicans have also tried to discredit the private Tax Policy Center ever since the research organization declared that Mitt Romney’s proposal to cut tax rates by 20 percent while protecting the middle class and not increasing the deficit was mathematically impossible.”